The Economic and Financial Crimes Commission (EFCC) has directed that a post-no-debit restriction be placed on the Osun State Government’s statutory allocation account as part of an ongoing investigation into the state’s financial activities.
According to an official letter dated 5 August 2026, the anti-graft agency instructed First Bank to prevent withdrawals from the account pending the conclusion of its investigation.
The directive, signed by Adenike Babalola, Assistant Commander of the EFCC on behalf of the Director of Investigation, was addressed to the bank’s Managing Director, with a copy sent to the Chief Compliance Officer.
The affected account, identified as “Osun State Government Statutory Allocation” with account number 2017170947, was ordered to be placed under a post-no-debit restriction in line with the provisions of the EFCC (Establishment) Act, 2004 and the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission stated that the latest directive followed an earlier correspondence issued on 15 April 2026, indicating that the investigation had been ongoing for several months.
Sources within the EFCC disclosed that the probe into the Osun State Government began more than a year ago, stressing that it was unrelated to the forthcoming governorship election.
According to
the sources, several senior officials of the state government have previously honoured invitations from the commission and provided written statements as part of the investigation.The EFCC has yet to issue an official public statement on the latest development.
Efforts to obtain comments from the commission’s spokesperson, Dele Oyewale, were unsuccessful as he neither answered calls nor responded to text messages at the time of filing this report.
The freezing of the account comes shortly after Governor Ademola Adeleke alleged that the EFCC was planning to freeze the accounts of the Osun State Government and some senior officials ahead of the state’s governorship election.
In a statement issued by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, the governor described the alleged move as an attempt to frustrate the operations of his administration before the election.
Governor Adeleke further argued that the EFCC lacks the constitutional authority to freeze the account of a state government, insisting that there was no legal justification for such action.
The latest action by the anti-graft agency is expected to further heighten political tension in Osun State as preparations continue for the forthcoming governorship poll.
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